Energy Storage Tax Incentive and Deployment Act of 2021
- Last Action
- 3/9/2021
Actions
- 2021-03-09Referred to the House Committee on Ways and Means.
- 2021-03-09Introduced in House
- 2021-03-09Introduced in House
CRS Summary
As of 2021-03-09 (00)
Energy Storage Tax Incentive and Deployment Act of 2021
This bill allows tax credits for (1) energy storage technologies, and (2) battery storage technology.
The bill expands the tax credit for investments in energy property to include equipment that (1) receives, stores, and delivers energy using batteries, compressed air, pumped hydropower, hydrogen storage (including electrolysis), thermal energy storage, regenerative fuel cells, flywheels, capacitors, superconducting magnets, or other technologies identified by the Internal Revenue Service; and (2) has a capacity of at least five kilowatt hours.
The bill also expands the tax credit for residential energy efficient property to include expenditures for battery storage technology that (1) is installed on or in connection with a dwelling unit located in the United States and used as a residence by the taxpayer, and (2) has a capacity of at least three kilowatt hours.
Cosponsors (20)
- Vern Buchanan (R-FL)
- EARL BLUMENAUER (D-OR)
- Darin LaHood (R-IL)
- Paul Tonko (D-NY)
- DIANA DEGETTE (D-CO)
- Cheri Bustos (D-IL)
- Nanette Barragan (D-CA)
- Peter Welch (D-VT)
- Chellie Pingree (D-ME)
- Brian Fitzpatrick (R-PA)
- Mariannette Miller-Meeks (R-IA)
- Jefferson Van Drew (R-NJ)
- NYDIA VELAZQUEZ (D-NY)
- Chris Pappas (D-NH)
- Donald Beyer (D-VA)
- Julia Brownley (D-CA)
- Yvette Clarke (D-NY)
- Raúl Grijalva (D-AZ)
- Daniel Kildee (D-MI)
- Mark Pocan (D-WI)
Subjects
- Alternative and renewable resources
- Business investment and capital
- Energy efficiency and conservation
- Energy storage, supplies, demand
- Income tax credits
- Residential rehabilitation and home repair
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.